New fund issuance reached a new high in the past four years
A number of popular equity funds, including equity and fixed income products, continue to break out. In 2019, the fund industry delivered a beautiful report card on the issuance of new funds.
According to wind data statistics, in 2019, there were only 1059 new development funds in the whole market, breaking the 1000 mark again after 2016; the total amount raised was 1.44 trillion yuan, only lower than 1.646 trillion yuan in 2015..
In terms of classified funds, the issuance scale of stock funds has increased by 76.51% compared with the same period in 2018, and the initial issuance of bond funds has increased by more than twice compared with the same period in 2018. In 2018, the issuance of strategic placement funds once boosted the initial issuance scale of hybrid funds, and in 2019, the initial issuance scale of hybrid funds has declined by 21.72% compared with the same period in 2019.
In 2019, 26 new funds with a scale of more than 10 billion were born in the new fund issuance market, among which, the initial scale of the 1-3-year agricultural development bond index of Minsheng plus bank China bond and the 39 month fixed opening pure bond of jiashian yuan exceeded 20 billion yuan.
Amortized cost method bond funds and bond index funds are greatly affected by the policy, while equity fund issuance more reflects the enthusiasm of ordinary investors. According to a fund company salesman in South China, in 2019, the new development fund reached two record highs thanks to structural bull markets in both the stock and bond markets. He predicted that the stock market may still have structural market in 2020, and the issuance of equity funds may continue to heat up, but the bond market in 2020 may be a small year, and the issuance scale of bond funds may be affected.
In addition, he also pays special attention to the influence of bank financing subsidiaries on public funds. This year, one of the factors that greatly disturbed the issuance of public funds comes from the product issuance progress of the banks financial subsidiaries. The channel capacity of the banks financial subsidiaries is stronger than that of the public funds. If the products are issued rapidly at the channel end, it may also have an impact on the issuance market of the public funds.
Jiashi and Wells Fargo made their debut in the top five
According to wind data, in 2019, the top 15 fund companies raised a total of 730.511 billion yuan, and their initial scale accounted for 50.87% of the issuance market, down 13 percentage points from 2018. In 2018, due to the disturbance of strategic placement funds, the concentration of head fund companies was greatly increased.
Among them, huitianfu fund ranks first among all fund companies with a total initial scale of 76.788 billion yuan, and the initial scale of huitianfu steady growth hybrid fund exceeds 13 billion yuan, which is also the largest equity fund in 2019. The issuance scale of other six funds, such as China development bond, huitianfu Shengan 39 month fixed opening, huitianfu dividend growth, also exceeds 5 billion yuan.
By the end of 2019, Harvest Fund and Wells Fargo fund have entered the top five new fund issuance in the whole year. Compared with 2018, the annual new development fund scale of Harvest Fund increased by 1.36 times year-on-year, and that of Wells Fargo fund in 2019 was 58.691 billion yuan, ranking the third in the industry, with an increase of 2.43 times compared with that of 2018. Huaxia and Guangfa ranked fourth and fifth respectively with 56.398 billion yuan and 52.755 billion yuan.
However, in the view of many insiders, the new fund issuance data does not fully reflect the sales strength of fund companies. Last year, some fund companies with outstanding long-term equity fund performance in the industry sold their new funds on a quota basis and took the initiative to control the initial size of the new funds. Such fund companies pay more attention to the balanced development of fund companies performance scale, and the long-term development potential of the company is expected. Said the salesperson of the said South China fund company.
Last years list of fund companies was dominated by fund companies with outstanding institutional business. A salesman from a large fund company reported that his company lost in institutional business in 2018, and institutional business has caught up in 2019, but the retail market still needs to work hard.
The salesmen of the large fund companies also pay more attention to the change of the distribution pattern of the equity fund market in the future. Jingshun Great Wall, Xingquan, BOCOM Schroder and other fund companies with outstanding equity performance have strong appeal in the retail channel, and the competition of equity funds in the retail channel is very fierce. As for the institutional entrusted bond fund, at present, it is still a large fund company with more fighting power.
This year or actively control the number of new fund issuance
This year, we need to be more aggressive in fund sales. Now, the investment concept of buying stocks is better than buying funds is being popularized. The fund industry needs to seize the development opportunities. One funds marketing director said. But in his view, accelerating the layout does not necessarily mean multiple new funds. It is understood that some head banking channels will pay more attention to the continuous marketing of old funds in 2020, and the issuance of new funds will slow down compared with 2019.
In the direction of new fund layout, the market directors of the above-mentioned fund companies pay more attention to active equity funds, smartbeta index funds and quantitative hedge funds. In addition to the above directions, the pace of issuance of amortized cost bond funds depends on the progress of product approval, and not all fund companies of public offering mom have the strength to participate.
The above-mentioned salesmen of South China fund company also said that in 2020, equity fund is still the focus of fund company layout, and they are optimistic about the opportunities of Hong Kong stock market. The relevant Hong Kong stock fund is also a direction of new fund issuance. In addition, in the context of the downward bond yield, the secondary bond based yield is expected to outperform the financial products. Fund companies will also make efforts to arrange secondary bond bases and other fund products that can undertake bank financing funds.
In the past few years, the scale of many new funds in the industry has gradually shrunk after several years of establishment, and the fund companies also feel that half the effort is made with twice the effort. This year, we will reduce the number of new fund issues, focus on the performance and continuous marketing of old funds, and do a good job in long-term investment and education. In 2020, some banking channels will also feed back that they will not access too many new funds, but focus on selecting competitive products. It is expected that in 2020, the initial scale of new funds will still be large, while the overall number will decline.
Source: responsible editor of China Fund News: Li Zhaoyuan u00b7 b7890